EU senses Facebook scandal shifts privacy tide in its favour

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Analysts and investors keep close tabs on Facebook's user statistics as a way to gauge the company's financial health.

The House hearing came a day after a five-hour questioning by U.S. senators, in which Mr Zuckerberg made no further promises to support new legislation or change how the social network does business.

They posted their biggest daily gain in almost two years on Tuesday as Mr Zuckerberg managed to deter any specific discussion about new regulations that might hamper Facebook's ability to sell ads tailored to users' profiles. According to a recent survey about Facebook users and their expectations, almost 60 percent of respondents expected the company to collect some data about them.

That's according to Facebook vice president of global marketing solutions Carolyn Everson who said at The Wall Street Journal's CEO Council event this week that the social networking giant is "not anticipating major changes to our overall revenue and business model". The European Union has set a great example with the upcoming General Data Protection Regulation: every internet user has the right to know when their data changes hands or is subject to a breach, and has the right to be forgotten.

Others poured cold water on the idea that Cambridge Analytica was able to use these profiles as grist for its research on swaying voters by cracking the code of human intention. Of course, this one follows on the heels of CEO Mark Zuckerberg's two days of testimony on Capitol Hill in connection with a separate scandal.

New Mexico representative Ben Lujan asked for Zuckerberg to elaborate on the practice, questioning how many data points Facebook collects on those that haven't even joined the platform. And I think that the difference is extremely clear, which is that, on Facebook, you have control over your information.

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"Based on our investigation, you don't appear to have logged into "This Is Your Digital Life" with Facebook before we removed it from our platform in 2015", the notice said.

The social network replies, "No. Facebook is a free site and will never require that you pay to continue using the site".

The archive also has knowledge of not only the advertisements a user has clicked on, but also which advertisers have downloaded the user's info.

These numbers should be of real concern to Facebook's bottom line.

He said Facebook also uses information to support its $350-billion company.

Before reading this article, you may want to watch this three-minute video or read this brief explainer about how a political firm, Cambridge Analytica, used Facebook to acquire private data on millions of Americans. The data collection didn't violate any rules.

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